June 14, 2024
Ethereum News

Ethereum And Bitcoin New Price Predictions Are Out

It seems that there are some pretty fresh price predicitons about Bitcoin and Ethereum. Check them out below.

Ethereum and Bitcoin new price predictions are here

A widely followed crypto analyst says Ethereum (ETH) is facing a “moment of truth” as he maps out potentialities for Bitcoin’s (BTC) next big move.

Crypto trader Justin Bennett said that ETH’s price to keep an eye on is $1,835.

“Moment of truth for ETH here at $1,835.

Sustained break above and we could see $1,890 next week.

Resistance for now.”

ETH is worth $1,831 at the time of writing, just below Bennett’s highlighted level.

Moving on to king crypto Bitcoin, Bennett says today’s close will be important for the largest crypto by market cap.

“BTC bulls are trying to reclaim that $26,500-$26,700 area today.

Daily close will be key!”

Diving deeper into his Daily Price Action newsletter, Bennett further explores why today’s close is so key.

“Bitcoin closed below $26,500 on Wednesday for the first time since mid-March.

The level had served as key support for months before Wednesday’s breakdown.

However, the jury is out on whether that breakdown holds.”

He continued and said the following:

“Bitcoin is testing the $26,500 level as new resistance today, and bulls are doing everything possible to close the session back above that mark.”

He said that BTC must reclaim the levels of $26,500-$26,700 to switch back to support. If not, the cryptocurrency may drop to $25,000.

“Where Bitcoin goes from there (if tested) depends on how the market reacts to channel support and the $25,200 horizontal level.

That said, don’t rule out a reclaim this week, especially given how indecisive markets have been this month.

A daily close above $26,500 and $26,700 would confirm the fakeout and expose $27,600 and likely the liquidation cluster at $27,800.”

Stay tuned for more relevant news from the crypto space and make sure to keep your eyes on the markets.